🛒 Funding Boost
Rohlik, a leading Czech grocery delivery company, announced a significant $170M funding round. The European Bank for Reconstruction and Development (EBRD) led this round, with participation from Sofina, Index Ventures, Quadrille, TCF Capital, and the European Investment Bank (EIB) under its Scale-Up Initiative. Rohlik's CEO, Tomáš Čupr, stated that this funding would fuel their ambitious expansion plans and technological advancements. While the company's current valuation remains undisclosed, it is higher than previous rounds, yet below $2B. This injection brings their total equity and debt raised to nearly $800M.
🚀 Expansion Plans
Rohlik served 800,000 customers in 2023 and is set on expanding its model across Europe. The company targets launching in 10 additional cities within the next six years. Known for its unique approach, Rohlik operates smaller warehouses and collaborates with local producers, including butchers and fishmongers, differentiating itself from traditional supermarket delivery models. “To replace Rohlik, you would have to do five different shops,” noted Čupr, emphasizing their comprehensive service that offers 17,000 SKUs with 1-2 hour delivery slots.
💡 Tech Innovations
Alongside expanding its delivery service, Rohlik plans to enhance and license its technology to other delivery players. Their tech stack includes logistics and analytics software, and robotics for sorting and picking. The tech licensing initiative, set to launch later this year, aims to help other companies build efficient local networks. Čupr highlighted the importance of their proprietary technology in driving growth and efficiency across their operations.
📈 Market Context
The grocery delivery market has faced significant challenges post-pandemic. Despite the downturn, Rohlik has shown resilience. Other players like Getir and Gopuff have struggled, with Getir retreating to its home market in Turkey and Gopuff burning through $400M last year. Rohlik’s strategic focus on technology and local partnerships has helped it weather the storm. The company reported an average revenue growth of 40% post-COVID-19 and aims to reach €1B in revenue by the end of 2024. “We are very proud to support Rohlik’s growth and expansion plans,” said Tamas Nagy of the EBRD.
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